BW Energy buys Brazil FPSO to slice costs of offshore field

Norway’s BW Energy has finalised the acquisition of the Cidade de Vitoria floating production, storage and offloading vessel from Saipem, a move that will significantly reduce operational expenses for the entire field offshore Brazil.

The FPSO is currently producing 10,000 barrels per day of oil from the Golfinho field off the coast of Brazil.

In accordance with the terms set forth in the June 2022 agreement, BW Energy will provide Saipem with a fixed consideration of US$73 million for the FPSO, with US$38 million already disbursed in the third quarter of 2023.